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Earnings per Unit

6 Months Ended

Jun. 30, 2023

Earnings per Unit

Earnings per Unit

10. Earnings per Unit:

The Partnership calculates earnings/ (losses) per unit by allocating distributed and undistributed net income/ (losses) for each period to common and general partner units, after adjusting for the effect of preferred distributions, only to the extent that they are earned.

Any undistributed earnings for the period are allocated to the various unitholders based on the distribution waterfall for cash available for distribution specified in the Limited Partnership Agreement, as generally described in Note 9 above. Where distributions relating to the period are in excess of earnings, the deficit is also allocated according to the cash distribution model. The sum of the distributed amounts and the allocation of the undistributed earnings or deficit to each class of unitholders is divided by the weighted average number of units outstanding during the period. Diluted earnings per unit, if applicable, reflects the potential dilution that could occur if potentially dilutive instruments were exercised, resulting in the issuance of additional units that would then share in the Partnership’s net earnings. The Partnership had no dilutive instruments in the six-month periods ended June 30, 2023 and 2022.

​

10. Earnings per Unit (continued):

The calculations of the basic and diluted earnings per common unit are presented below:

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​	​	​	​	​	​	​
​	​	Six months ended
​	​	June 30,
​	​	2023		​	2022
Partnership’s Net income		$	24,030		$	34,999
Less:	​			​
Net Income attributable to preferred unitholders	​		5,781	​		5,781
General Partner’s interest in Net Income	​		19	​		29
Net income attributable to common unitholders	​	$	18,230	​	$	29,189
Weighted average number of common units outstanding, basic and diluted	​		36,802,247	​		36,802,247
Earnings per common unit, basic and diluted	​	$	0.50	​	$	0.79

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- References

No definition available.

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//260/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-3

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